SEC Form X-17A-5

What is SEC Form X-17A-5

SEC Form X-17A-5 is a financial reporting form that all broker-dealers who are registered with the U.S. Securities and Exchange Commission (SEC) must finish. This form comprises of three parts and contains an annual audit that must be performed by a certified public accountant (CPA).

Breaking Down SEC Form X-17A-5

SEC Form X-17A-5 must be filled out by all broker-dealers that are registered with the SEC, as commanded by Section 17 of the Securities Exchange Act of 1934 Rule 17a-10(a)(1). The form is utilized to report a broker-dealer's financial and operating conditions. Part I of SEC Form X-17A-5 contains general information about the registrant, alongside operational capital charge things that are intended to measure certain economic and financial characteristics of the registrant. Part II contains the annual audit, and Part III contains identification information about the registrant and the accountant.

The SEC calls this form a Financial and Operational Combined Uniform Single (FOCUS) Report, as it presents a combination of the financial and operational wellbeing of a broker-dealer who is registered with the SEC. Starting around 2020, broker-dealers, including those registered as over-the-counter (OTC) derivatives dealers, can deliberately file these forms electronically through the SEC's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system in lieu of filing paper reports.

Since Form X-17A-5 contains a number of timetables and amendments, broker-dealers ought to check the SEC's website intermittently for any changes like exemptions, filing dates, requirements, or other amended information, however tests of the current form can be found here:

• SEC Form X-17A-5-Part I
• SEC Form X-17A-5-Part II
• SEC Form X-17A-5-Part III